Company sells 14,699,660 common shares at $1.50 apiece through deal
By Devika Patel
Knoxville, Tenn., Feb. 18 – Oncothyreon Inc. said the underwriters for its public offering of stock opted to exercise the deal’s $3.04 million greenshoe in part for total proceeds of $22.05 million. The offering was announced Feb. 5 and priced for $20.25 million with the greenshoe on Feb. 6.
The company sold 14,699,660 common shares at $1.50 per share. The price per share is a 4.46% discount to the Feb. 5 closing share price of $1.57. Of the shares, 1,199,660 were part of the partially exercised greenshoe.
Jefferies LLC was the bookrunning manager.
Proceeds will be used to fund development of its therapeutic products including ONT-380, ONT-10, its small molecule Chk1 program and its protocell technology as well as for general corporate purposes, including other discovery or preclinical research and product development. A portion of proceeds will be used to acquire or license new product candidates or technology that could result in other product candidates.
Oncothyreon is a Seattle-based biotechnology company.
| Issuer: | Oncothyreon Inc.
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| Issue: | Common stock
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| Amount: | $22,049,490 (including $1,799,490 greenshoe)
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| Shares: | 14,699,660
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| Price: | $1.50
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| Warrants: | No
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| Bookrunner: | Jefferies LLC
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| Announcement date: | Feb. 5
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| Pricing date: | Feb. 6
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| Settlement date: | Feb. 18
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| Stock symbol: | Nasdaq: ONTY
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| Stock price: | $1.57 at close Feb. 5
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| Market capitalization: | $143.74 million
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